MTNL gets Rs.458 crore for surrendering CDMA spectrum

New Delhi, March 31 (IANS) The government has approved compensation of Rs.458.04 crore to Mahanagar Telephone Nigam Ltd (MTNL) for surrender of 800 MHz CDMA spectrum, the company said in a regulatory filing on Thursday.

“MTNL has informed BSE that government had approved compensation of Rs.458.04 crore to MTNL for surrender of 800 MHz CDMA spectrum out of which Rs.428.95 crore has been sanctioned for disbursal vide DoT (Department of Telecom) letter dated March 28, 2016 and MTNL has received the amount in its account on March 30, 2016,” the filing with the BSE said.